The Prime Minister looks unlikely to win parliament's backing for the plan. Speaking to Parliament's Treasury Committee today, Mr. Hammond warned against the dangers of rejecting the Prime Minister's plan which leaves the UK at the risk of leaving without a deal or a Brexit at all. The White Paper scenario is showing here. "

"Divided countries are not successful countries."

Mr Hammond said it would be "catastrophic" for Britain if it remained mired in the Brexit debate for years to come.

"My own judgment is that we need a way forward which heals our country. We are a deeply fractured country, with an opinion heavily polarized and trusted in the political system correspondingly damaged.

"We have to resolve this."

But the Chancellor said he would take a "different view" if the UK left with no deal.

Brexit referendum – although Mrs. May has always ruled out the theories last option.

In the European Union, while a "no deal" Brexit would hurt growth more.

Separate Bank of England analysis showed that in a deal scenario, Britain would suffer a sharper recession than after the financial crisis.

Mr Hammond predicted the Bank of England would probably expect the government to step in to provide fiscal stimulus in that situation.

This would be to consider if it were to pay interest.

The standard World Trade Organization preferred by some Brexit supporters.